Open and spacious foyer welcomes you with updated engineered hardwoods and vaulted ceilings. Upstairs enjoy the quiet open loft. The private master retreat is spacious and boast of a well appointed master bath. The secondary bedroom also has it’s own private bath. On the main level, the spacious living room provides a warm welcoming feel with a fireplace that flows to the kitchen and private backyard oasis. 2 car attached garage!
Condominium homes are a great, low-maintenance choice for a primary residence, second home, or investment property. This alternative to the traditional single-family home has unique issues to consider before buying, as well as unique benefits. Here’s some background information to help you decide whether purchasing a condo is a good match for you.
Increasingly, condos are not just for first-time homebuyers looking for a less expensive entry into the housing market. Empty-nesters and retirees are happy to give up mowing the lawn and painting the house. Busy professionals can experience luxury living knowing their home is safe and well-maintained while they are away on business. If you are considering buying a condominium for a home, here are a few things you should know:
With condominiums, you own everything in your unit on your side of the walls. Individual owners hold title to the condominium unit only, not the land beneath the unit. All owners share title to the common areas: the grounds, lobby, halls, parking areas and other amenities. A homeowners’ association (HOA) usually manages the complex and collects a monthly fee from all condominium owners to pay for the operation and maintenance of the property. These fees may include such items as insurance, landscape, and grounds upkeep, pool maintenance, security, and administrative costs.
The owners of the units in a condominium are all automatic members of the condo association. The association is run by a volunteer Board of Directors, who manage the operations and upkeep of the property. A professional management company may also be involved in assisting the board in their decisions. The condo association also administers rules and regulations designed to ensure safety and maintain the value of your investment. Examples include whether or not pets are allowed and the hours of use for condominium facilities, such as pools and work-out rooms. Should a major expense occur, all owners are responsible for paying their fair share of the expense.
The pros and cons of condominium living:
The condominium lifestyle has many benefits, but condominium ownership isn’t for everyone. Part of it depends on your lifestyle. Condominium living may not be optimum for large families with active kids. The other factor is personal style. By necessity, condominium associations have a number of standardized rules. You need to decide whether these regulations work for you or not. Here are some points to keep in mind if you’re considering condominium living.
Cost: Condominium homes typically cost less than houses, so they’re a great choice for first-time buyers. However, because condominiums are concentrated in more expensive locations, and sizes are generally smaller than a comparable single-family home, the price per square foot for a condominium is usually higher.
Convenience: People who love living in condominiums always cite the convenience factor. It’s nice to have someone else take care of landscaping, upkeep, and security. Condominium homes are often located in urban areas where restaurants, groceries, and entertainment are just a short walk away.
Luxury amenities: May condominiums offer an array of amenities that the majority of homeowners couldn’t afford on their own, such as fitness centers, clubhouses, wine cellars, roof-top decks, and swimming pools. Lobbies of upscale condominiums can rival those of four-star hotels, making a great impression on residents.
Privacy: Since you share common walls and floors with other condominium owners, there is less privacy than what you’d expect in a single-family home. While condominiums are built with noise abatement features, you may still occasionally hear the sound of your neighbors.
Space: With the exception of very high-end units, condominiums are generally smaller than single-family homes. That means less storage space and often, smaller rooms. The patios and balconies of individual units are usually much smaller as well.
Autonomy: As a condominium owner, you are required to follow the laws of the associations. That means giving up a certain about of control and getting involved in the group decision-making process. Laws vary greatly from property to property, and some people may find certain rules too restrictive. If you long to paint your front door red or decorate your deck with tiki lanterns, condominium living might not be for you.
Things to consider when you decide to buy:
Condominium homes vary from intimate studios to eclectic lofts and luxury penthouses. The right condominium is the one that best fits your lifestyle. Here are a few questions to ask to determine which condominium is right for you.
How will you use it?
Will your condominium be your primary residence? A second home? An investment property? While a studio may be too small for a primary residence, it might be a perfect beachfront getaway. Also, consider how your lifestyle may change over the next five to seven years. If you are close to retirement, you may want to have the option of turning a vacation condominium into your permanent home.
Where would you like to live?
Some people love the excitement and sophistication of urban living. Others dream of skiing every weekend. Whether it’s the sound of the surf or the lure of the golf course, a condominium home affords you the ability to live a carefree lifestyle in virtually any setting.
What amenities are most important to you?
The variety of condominium amenities increases each year. Decide what you want, and you can be assured of finding it. Most urban and resort condominiums have an enticing array of extras, from spas to movie screening rooms to tennis courts.
What are your specific needs?
Do you have a pet? Some associations don’t allow them; others have limitations on their size. Parking can be a major issue, especially in dense, urban areas. How many spaces do you get per unit? Do you pay extra if you have more vehicles?
Finally, once you’ve found a property you like, examine the association’s declaration, rules, and bylaws to make sure they fit your needs. The association will provide you with an outline of their monthly fees and exactly what they cover so you can accurately budget your expenses.
Review the association board’s meeting minutes from the past year to get an idea of any issues the association is working on. An analysis of sales demand and property appreciation compared to like units may help ensure that you make the best possible investment.
This well maintained 2 bedroom, 2 bathroom end unit 2-story condo at 221 Chestnut St #D6 is in a great location just minutes from downtown Windsor and just a block from the park. The kitchen and bathrooms have been recently updated. Built in shelving through out the home offers convenient storage space. Outdoor green space and patio space in front of the home. The open layout is just waiting for your personal touches. Contact Anali Siegle for your private showing at 970-829-8818 for more information or click the link below for more details.
Location, Location, Location! Come home to this maintenance-free living, quiet end unit town home in desirable Stone Creek.
Easy access to I-25 and Hwy 34, shops at Centerra, schools and hospitals. HOA covers water, sewer,trash, exterior maintenance, exterior insurance, landscaping, snow removal, basic cable, fitness center, clubhouse, pool and hot tub! Relax in your cozy living room with a gas fireplace. Unfinished basement for your future expansion.
For more information, please contact us at 970-460-3033 or by clicking here: http://windermerenoco.com/listing/53981229.
Beautifully maintained and updated town-home style condo.
For more information, please contact us at 970-460-3033 or by clicking here: http://windermerenoco.com/listing/54004112
Here are some fun “Did You Know?” stats as we wrap up 2016 (arguably one of the most fascinating years in the history of Northern Colorado Real Estate)
- This year the median price of a home surpassed…
- $350,000 in Fort Collins
- $300,000 in Loveland
- $250,000 in Greeley
- 2,281 homes were sold in Fort Collins this year
- That’s 133 fewer than last year
- Windsor had 197 more home sales than last year
- The only major market with considerably more sales than 2015
- Today, as we finish 2016, there are only 10 single family homes on the market in Fort Collins priced under $300,000.
Check out what’s happening in the multi-family market in Fort Collins.
The number of condos and townhomes for sale is way down compared to last year. 35% fewer new listings hit the market in November 2016 versus November 2015.
Of course that means prices are up, 15% to be exact. The average price for multi-family in Fort Collins is now at $282,000.
Who would have thought that one day the average price for a condominium or townhome in Fort Collins would be $300,000? Well, that’s close to being a reality.